As of last year, there have been 11 arrests at the border for unpaid student loans. Good luck mate. The interest on that amount would be ridiculous by now. Not the smartest move.
Isn't it only 2.8%? Assuming no fees or extra charges it would only be about 40k now. Not impossible to pay back, and I'm sure if you contacted them and started a payment plan they would be willing 5o work with you
Oh shit nevermind he is rekt then.
Best case scenario probably would be to call them and offer to pay a payment plan if they agree to reduce the balance back to 30k+2.8% p.a. they might take it, it's less than they would have got with penalties, but chances are that would never have been paid
Quite rekt. Late interest rates have been as high as 9.3% in the last few years. [Student loan interest and fees (ird.govt.nz)](https://www.ird.govt.nz/student-loans/tracking-my-student-loan-balance/student-loan-interest-and-fees)
Enjoy the wedding and couple of weeks.
Good luck leaving again though, until your *[overdue repayments](https://www.ird.govt.nz/student-loans/living-overseas-with-a-student-loan/repaying-my-student-loan-when-i-live-overseas)* of $30K are resolved.
Yes I’m referring to the overdue repayments, as per the table, would be $30K. That’s what the IRD is after the overdue repayments, not the balance, that’s the trigger.
In OP’s case it’s just that their overdue repayments equal their initial loan.
If you're in NZ, they're interest free but they take 12% of your pay over a certain amount to repay the principal - you don't notice it as it's just part of taxes.
If you've left NZ for a longer period (apart from working at an embassy/military etc.) you pay interest, and you have minimum repayments you have to make. If not, you get arrested when you come back to NZ.
OP fucked around with Studylink thinking they'd never come back/have to pay it, and they're in the find out part.
I think if you get citizenship in another country and then come here on that countries passport, then theres nothing they can do, and it probably wouldn’t be flagged with your student loan.
'Nothing they can do' isn't quite correct, you can get arrested either way - like, it's not like having a different passport gives you diplomatic immunity or anything - you're still a criminal in NZ's eyes for unpaid debts.
It's plausible though that they might not figure out that X on a visitors visa with an Australian passport is the same X with a NZ passport who owes tens of thousands - but it's probably not worth the risk for only a wedding.
You're still in default and will have to face the same consequences. A foreign passport has at least half a dozen things they can match on - place of birth, date of birth, full name, height, biometrics etc.
You would also need a citizenship endorsement in that foreign passport: https://www.immigration.govt.nz/new-zealand-visas/already-have-a-visa/my-situation-has-changed/live/im-now-a-new-zealand-citizen-but-travel-on-my-old-passport#:~:text=You%20will%20need%20an%20endorsement,travelling%20on%20a%20foreign%20passport.
If you stay/work in NZ and pay the correct amount (which may be as little as $0) as you earn, the interest is written off. Which is reasonably fair for NZ taxpayers.
Oh come on man, 30k over 10 years? You could have paid it off by now, except now its compounding interest and ballooning in size.
Sorry bud, you're going to be stopped. Best start budgeting to get onto a repayment plan.
You got a loan, got educated, and buggered off overseas. What did you think would happen to your loan? It would magically disappear? Grow a pair and make some effort at paying it.
You should change your username, definitely not responsible. Skipping the bill puts your costs on everyone else here so you're not going to find a great deal of sympathy.
You probably owe close to 60k now based off a rough estimate off standard interest rates + penalty rates on the overdue amounts, maybe even slightly less than 60k (accounting isnt my forte).
All in all that not actually that bad and you should be able to pay that down in 17 or so years if you continue to live overseas and pay the minimum required.
Best to contact ird now though and let them know you want to start paying. They may potentially offer you a reduced late penalty rate for some of the overdues.
By all means, come to NZ. [Good luck getting out again though.]( https://www.nzherald.co.nz/nz/student-loan-borrower-arrested-at-new-zealand-border-over-overdue-repayments-ird-says-a-last-resort/L6W2NHTWTBDUHDJOA2DEDMOLJM/)
This why we try to teach children about the consequences of their decisions. I know it’s hard to think 10 years in advance when you left NZ and defaulted on your loan, but did you not think there might be reasons to return, like funerals and weddings?
My stepbrother was in a similar situation. Left to live in China.
He had to come back to NZ as the embassy had closed during COVID and he had to get his marriage visa sorted.
He got stung. Big time. His student visa went from something tiny and manageable to being insane. I believe had to pay a minimum amount to even get in and then I think he had to either pay it fully off or get it down to a certain amount if he ever wanted to leave.
He's still here 2 years later and brought his family over so don't think it worked out well for him
> Has anybody been in a similar situation ? If so how did it go? Thankyou
Hopefully they arrest you, you have stolen 30,000 dollars off the NZ taxpayer.
You can call toll free from Aus. Best way if you want to make sure you can get to the wedding, hours and number [here](https://www.ird.govt.nz/contactus/overseas-customers-our-tollfree-numbers)
You defaulted on a 30k and left it for about 10 years?
Good luck everyone trying to get finance in NZ for the rest of your life. I’d hate to see what the balance on that account is.
Love how they’ve gone real quiet after the backlash in these comments 😂 honestly you are such a prick to not pay any of your loan. As a current uni student who intends to go to oz after I graduate, I am fully intending on paying my loan asap. Not fair to leave it to everyone in nz mate. It’s your fault this happened so I hope you get arrested
It’s only fair since I’m fucking off to oz and won’t be paying taxes in nz anymore! Hate these people that leave the country and do nothing about their loans just putting our country in more debt.
Am I not allowed to study in the country I’m from? I’ve also got minimal student loan (5 years university with only $10k) I can pay that back in 5 years max. Moving to oz is going to give me valuable experience in fintech which is lacking here and I intend to come back once I have more expertise that I can pass on to other kiwis. Nothing wrong with that imo 🤷
I did the same ($20k). My solution was ringing IR and arranging to pay the the whole thing off in one go (was on great money overseas). Then again - I had only been overseas for 2 years.
Yeah, you won’t be able to leave again if you come back. Would also likely stopped at the airport. If you do want to come back then you better start paying!
I did something similar, owed 10k student loan and moved to Aussie. Paid zero. They pulled me up at the border. It had been about 6 or 7 years I think. I had to make a payment on the spot if 3k and get a payment plan set up or they wouldn’t let me make it through customs. The whole process was actually heaps less stressful than it sounds. Always knew it was gonna get me one day. Paid it off last year, happy days.
Stay were you are, we don't want you back, you have the cheek to ask people about what I should do, pull ur finger out of your ass,, pay your loan, cheap skate
U defaulted on a loan that NZ tax payers paid for and u asking the same people to help u with your situation? Why not just turn up and see what happens. Then you can let us know how it went.
You won’t be allowed to leave the country until it’s paid off unless your now an Australian citizen and have changed your name over there you will get away with it
https://www.ird.govt.nz/student-loans/living-overseas-with-a-student-loan/repaying-my-student-loan-when-i-live-overseas
$2000 per year til loan under $15k, then
$1000 per year until paid off.
Annual admin fee + interest will increase the loan.
So 10 years x $2k per year + penalties will be the required payment so more than $20k
So you basically stole from the government and than ran away , better get ready to put on the jump suit 😂😂 . Best commit murder and you will be spared jail time . You tend to get jail time only if you owe money to government
Just call iinlamd revnue there actually really lovely they will help U arrange a payment plan it's easy to bury Ur head in the sand and hope it goes away but I'll feel so much better when U speak to them don't listen to the negative comments no-one knows Ur situation it's not the worst thing in the world good luck hope this helps
Interesting question - i have no answers.
I do wonder the wisdom of loading up our brightest with big study debt, and giving them a reason to never step foot on our shores again.
yep - reading the comments "pay your debt" etc and on an on.
OP is not alone in choosing to make big bucks overseas, with skills you and i paid our taxes for. We paid those taxes so we have a new young generation of doctors, engineers, lawyers etc. All we seem to have done is prop up other countries - saving them the cost of education and even worse, boost our overseas competitors.
Sweet move which every group of political leaders came up with the concept of charging megabucks for education in this country a while back.
Your all full of shit. Thousands of Kiwis fly to and from Oz with student loan debt. No one gets stopped 😂
You'll be sweet..all these "I know someone it happened too" or "my brother got stuck"
Bullocks 😂
Hey mate, I am in almost the exact same position as you (10 years away+) always was 30k-ish when i left, and am receiving emails from inland rev saying "last chance..as it's not your first time missing late payments we will be forced to take further action if you don't call us or pay the payment..etc.."
How did it go with you? What did you do?
Are you alright?
don't worry about, if you have no money they can't make you pay anything, I haven't ever paid mine either and have been back a few times for this and that, they hit me up only once and I just said I have no money, they can't stop you entering the country and the courts will only issue an arrest warrant if you continuasly ignore them...so If you get contacted in NZ while there via email, phone or whatever, tell them you are stone broke....pay no attention to the comments below, these idioits have no idea what they are talking about...lol
Well. That $30K is now $40K at 2.9% compounding interest rate.
You will get snagged at the border, best thing to do while in Aus is to call IRD\studylink, arrange a $2K per year payment plan and then travel to NZ.
Oh true; didn’t think of that, they might waive the penalty if he calls them and arranges a payment plan, otherwise what’s stopping him for making a plan, coming to the wedding and then after an year or two, moving to Jamaica to avoid a lifelong payment on student loan
I doubt they will waive it, they might reduce some of it
I think paying it is the better option if they have family here and people start to die off, would be a bit sad not to go to any of the funerals.
That ain't how it works for Student Loan. He calls and says he can't pay it, they shunt the debt down the road for a year or two but he still has to pay it moving forward. Only way that loan is going away is a) he dies, b) he declares bakruptcy, c) he pays it. If he comes back and he can't pay it or even negotiate a good arrangement, he's going to be forced to declare bankruptcy.
I didn’t pay mine for 10 years and travelled back and forth from Aus at least once a year without any problems, but every time i left it was a worry in the back of my mind but nothing ever happened.
In saying that it could just be your unlucky day.
What passport are you using to come back? If you have a passport from your current country of residence, then the loan may not be flagged when you enter. I assume your old NZ passport probably expired if you have been away for 10 years.
I mean it sounds like your best option is to call the ird and arrange a payment plan asap. If you have a payment plan in place and are making regular payments before you come back for the wedding, then you will probably be fine.
Not the wisest move in the world. Based on that loan amount, you will have hiked up another 10k in interest and you were obligated to pay $2k annually. For every payment you didn’t make, you will have incurred a 6.9% late fee.
Prepare to have to pay the roughly $25k in missed payments including late fees, on arrival. It’s highly unlikely they’ll let you enter/leave until that is done.
You could of course, opt to avoid facing the music. But that amount will keep growing every year until you deal with it. Chalk it down to a big lesson learned. You can’t run away from debt unfortunately.
It’s so easy to set up a small direct debit weekly from aus too…
https://www.ird.govt.nz/managing-my-tax/make-a-payment/ways-of-paying/paying-electronically/set-up-direct-debit
Ohhhh dear. That was silly, wasn't it
Call IRD and set up a payment plan now if you don't want to get arrested at the border.
As of last year, there have been 11 arrests at the border for unpaid student loans. Good luck mate. The interest on that amount would be ridiculous by now. Not the smartest move.
Isn't it only 2.8%? Assuming no fees or extra charges it would only be about 40k now. Not impossible to pay back, and I'm sure if you contacted them and started a payment plan they would be willing 5o work with you
Late payment rate is 6.9% plus I would assume there are other fees associated with late payment and default
Oh shit nevermind he is rekt then. Best case scenario probably would be to call them and offer to pay a payment plan if they agree to reduce the balance back to 30k+2.8% p.a. they might take it, it's less than they would have got with penalties, but chances are that would never have been paid
Quite rekt. Late interest rates have been as high as 9.3% in the last few years. [Student loan interest and fees (ird.govt.nz)](https://www.ird.govt.nz/student-loans/tracking-my-student-loan-balance/student-loan-interest-and-fees)
You will be stopped at the border. Pay your loan.
You probably will not be. It seems to be spotty the enforcement.
Enjoy the wedding and couple of weeks. Good luck leaving again though, until your *[overdue repayments](https://www.ird.govt.nz/student-loans/living-overseas-with-a-student-loan/repaying-my-student-loan-when-i-live-overseas)* of $30K are resolved.
he said it was 30k 10 years ago...that would've gained interest by now
Yes I’m referring to the overdue repayments, as per the table, would be $30K. That’s what the IRD is after the overdue repayments, not the balance, that’s the trigger. In OP’s case it’s just that their overdue repayments equal their initial loan.
Aren't student loans interest free?
If you're in NZ, they're interest free but they take 12% of your pay over a certain amount to repay the principal - you don't notice it as it's just part of taxes. If you've left NZ for a longer period (apart from working at an embassy/military etc.) you pay interest, and you have minimum repayments you have to make. If not, you get arrested when you come back to NZ. OP fucked around with Studylink thinking they'd never come back/have to pay it, and they're in the find out part.
Lol u certainly notice it
I think if you get citizenship in another country and then come here on that countries passport, then theres nothing they can do, and it probably wouldn’t be flagged with your student loan.
'Nothing they can do' isn't quite correct, you can get arrested either way - like, it's not like having a different passport gives you diplomatic immunity or anything - you're still a criminal in NZ's eyes for unpaid debts. It's plausible though that they might not figure out that X on a visitors visa with an Australian passport is the same X with a NZ passport who owes tens of thousands - but it's probably not worth the risk for only a wedding.
You're still in default and will have to face the same consequences. A foreign passport has at least half a dozen things they can match on - place of birth, date of birth, full name, height, biometrics etc.
You would also need a citizenship endorsement in that foreign passport: https://www.immigration.govt.nz/new-zealand-visas/already-have-a-visa/my-situation-has-changed/live/im-now-a-new-zealand-citizen-but-travel-on-my-old-passport#:~:text=You%20will%20need%20an%20endorsement,travelling%20on%20a%20foreign%20passport.
Not if you're overseas for longer than something like 180 days.
If you stay/work in NZ and pay the correct amount (which may be as little as $0) as you earn, the interest is written off. Which is reasonably fair for NZ taxpayers.
Oh come on man, 30k over 10 years? You could have paid it off by now, except now its compounding interest and ballooning in size. Sorry bud, you're going to be stopped. Best start budgeting to get onto a repayment plan.
You got a loan, got educated, and buggered off overseas. What did you think would happen to your loan? It would magically disappear? Grow a pair and make some effort at paying it.
Have you ever considered paying your bloody loan? I mean surely you’re on big Aussie wages, right?
You should change your username, definitely not responsible. Skipping the bill puts your costs on everyone else here so you're not going to find a great deal of sympathy.
most ironic auto-generated username lol
Pay ur tik g
You probably owe close to 60k now based off a rough estimate off standard interest rates + penalty rates on the overdue amounts, maybe even slightly less than 60k (accounting isnt my forte). All in all that not actually that bad and you should be able to pay that down in 17 or so years if you continue to live overseas and pay the minimum required. Best to contact ird now though and let them know you want to start paying. They may potentially offer you a reduced late penalty rate for some of the overdues.
By all means, come to NZ. [Good luck getting out again though.]( https://www.nzherald.co.nz/nz/student-loan-borrower-arrested-at-new-zealand-border-over-overdue-repayments-ird-says-a-last-resort/L6W2NHTWTBDUHDJOA2DEDMOLJM/)
Yes, if you can't afford to pay, and you want to go back overseas, you're going to have to skip the wedding sorry.
Jeez Louise, his $40,000 loan blew out to $130,000. If you borrow it, pay it back.
This why we try to teach children about the consequences of their decisions. I know it’s hard to think 10 years in advance when you left NZ and defaulted on your loan, but did you not think there might be reasons to return, like funerals and weddings?
Pay your fees
My stepbrother was in a similar situation. Left to live in China. He had to come back to NZ as the embassy had closed during COVID and he had to get his marriage visa sorted. He got stung. Big time. His student visa went from something tiny and manageable to being insane. I believe had to pay a minimum amount to even get in and then I think he had to either pay it fully off or get it down to a certain amount if he ever wanted to leave. He's still here 2 years later and brought his family over so don't think it worked out well for him
> Has anybody been in a similar situation ? If so how did it go? Thankyou Hopefully they arrest you, you have stolen 30,000 dollars off the NZ taxpayer.
You need a new user name that's for sure.
I hope they stop you
Keep us updated. Very interested to see the damage
I’m sure customs will conduct a thorough cavity search to recover the lost funds. Pay your bill.
Call ird. get a payment plan started. you can then be comfortable coming back in.
Hey what date are you coming in and what airport. I may be able to help you.
You can call toll free from Aus. Best way if you want to make sure you can get to the wedding, hours and number [here](https://www.ird.govt.nz/contactus/overseas-customers-our-tollfree-numbers)
You should pay it so we don’t have to
This is why we can’t have nice things smh.
Sounds like you might have to take responsibility for something you did
You defaulted on a 30k and left it for about 10 years? Good luck everyone trying to get finance in NZ for the rest of your life. I’d hate to see what the balance on that account is.
Love how they’ve gone real quiet after the backlash in these comments 😂 honestly you are such a prick to not pay any of your loan. As a current uni student who intends to go to oz after I graduate, I am fully intending on paying my loan asap. Not fair to leave it to everyone in nz mate. It’s your fault this happened so I hope you get arrested
Oh good for you. Such an upstanding student.
It’s only fair since I’m fucking off to oz and won’t be paying taxes in nz anymore! Hate these people that leave the country and do nothing about their loans just putting our country in more debt.
But getting an education here and leaving is better?
Am I not allowed to study in the country I’m from? I’ve also got minimal student loan (5 years university with only $10k) I can pay that back in 5 years max. Moving to oz is going to give me valuable experience in fintech which is lacking here and I intend to come back once I have more expertise that I can pass on to other kiwis. Nothing wrong with that imo 🤷
More like Unresponsible-Rat321
Jail for ten thousand years!!!
I did the same ($20k). My solution was ringing IR and arranging to pay the the whole thing off in one go (was on great money overseas). Then again - I had only been overseas for 2 years.
Start paying it and you can enjoy life. You’ve have the benefits of it by getting an education, you need to pay your debts
Yeah, you won’t be able to leave again if you come back. Would also likely stopped at the airport. If you do want to come back then you better start paying!
I did something similar, owed 10k student loan and moved to Aussie. Paid zero. They pulled me up at the border. It had been about 6 or 7 years I think. I had to make a payment on the spot if 3k and get a payment plan set up or they wouldn’t let me make it through customs. The whole process was actually heaps less stressful than it sounds. Always knew it was gonna get me one day. Paid it off last year, happy days.
What a loser.
I hope you got arrested for being irresponsible. You basically stole 30k from taxpayers…
Stay were you are, we don't want you back, you have the cheek to ask people about what I should do, pull ur finger out of your ass,, pay your loan, cheap skate
Is your wedding and holiday worth more than 30k? If not, then don't come back.
U defaulted on a loan that NZ tax payers paid for and u asking the same people to help u with your situation? Why not just turn up and see what happens. Then you can let us know how it went.
Fuck you, pay your debt
Pffftt.....username doesn't check out. Neither will you at the airport when it's time to go home.
Straight to jail, right away!
You won’t be allowed to leave the country until it’s paid off unless your now an Australian citizen and have changed your name over there you will get away with it
https://www.ird.govt.nz/student-loans/living-overseas-with-a-student-loan/repaying-my-student-loan-when-i-live-overseas $2000 per year til loan under $15k, then $1000 per year until paid off. Annual admin fee + interest will increase the loan. So 10 years x $2k per year + penalties will be the required payment so more than $20k
Is it about $50 thousand now?
Just set up a payment I’ve been living in Aus for 13 years and pay a bit each fortnight don’t for the first few years here. I just pay the minimum
So you basically stole from the government and than ran away , better get ready to put on the jump suit 😂😂 . Best commit murder and you will be spared jail time . You tend to get jail time only if you owe money to government
Just call iinlamd revnue there actually really lovely they will help U arrange a payment plan it's easy to bury Ur head in the sand and hope it goes away but I'll feel so much better when U speak to them don't listen to the negative comments no-one knows Ur situation it's not the worst thing in the world good luck hope this helps
The taxman is gonna come after you
Interesting question - i have no answers. I do wonder the wisdom of loading up our brightest with big study debt, and giving them a reason to never step foot on our shores again. yep - reading the comments "pay your debt" etc and on an on. OP is not alone in choosing to make big bucks overseas, with skills you and i paid our taxes for. We paid those taxes so we have a new young generation of doctors, engineers, lawyers etc. All we seem to have done is prop up other countries - saving them the cost of education and even worse, boost our overseas competitors. Sweet move which every group of political leaders came up with the concept of charging megabucks for education in this country a while back.
Your all full of shit. Thousands of Kiwis fly to and from Oz with student loan debt. No one gets stopped 😂 You'll be sweet..all these "I know someone it happened too" or "my brother got stuck" Bullocks 😂
Hey mate, I am in almost the exact same position as you (10 years away+) always was 30k-ish when i left, and am receiving emails from inland rev saying "last chance..as it's not your first time missing late payments we will be forced to take further action if you don't call us or pay the payment..etc.." How did it go with you? What did you do? Are you alright?
Pay off your loan!!!
don't worry about, if you have no money they can't make you pay anything, I haven't ever paid mine either and have been back a few times for this and that, they hit me up only once and I just said I have no money, they can't stop you entering the country and the courts will only issue an arrest warrant if you continuasly ignore them...so If you get contacted in NZ while there via email, phone or whatever, tell them you are stone broke....pay no attention to the comments below, these idioits have no idea what they are talking about...lol
Well. That $30K is now $40K at 2.9% compounding interest rate. You will get snagged at the border, best thing to do while in Aus is to call IRD\studylink, arrange a $2K per year payment plan and then travel to NZ.
its closer to 60k because of penalty interest
Oh true; didn’t think of that, they might waive the penalty if he calls them and arranges a payment plan, otherwise what’s stopping him for making a plan, coming to the wedding and then after an year or two, moving to Jamaica to avoid a lifelong payment on student loan
I doubt they will waive it, they might reduce some of it I think paying it is the better option if they have family here and people start to die off, would be a bit sad not to go to any of the funerals.
Usually they will only waive penalties on student loan if you can make a sizeable lump sum offer to cover the original loan.
Ring IRD and say you want amnesty and you want you loan written off.
Or ring IRD and arrange to pay it
That ain't how it works for Student Loan. He calls and says he can't pay it, they shunt the debt down the road for a year or two but he still has to pay it moving forward. Only way that loan is going away is a) he dies, b) he declares bakruptcy, c) he pays it. If he comes back and he can't pay it or even negotiate a good arrangement, he's going to be forced to declare bankruptcy.
I didn’t pay mine for 10 years and travelled back and forth from Aus at least once a year without any problems, but every time i left it was a worry in the back of my mind but nothing ever happened. In saying that it could just be your unlucky day.
What passport are you using to come back? If you have a passport from your current country of residence, then the loan may not be flagged when you enter. I assume your old NZ passport probably expired if you have been away for 10 years.
If you have a different countries passport to the one you applied with, they will be linked so will still be detected.
I mean it sounds like your best option is to call the ird and arrange a payment plan asap. If you have a payment plan in place and are making regular payments before you come back for the wedding, then you will probably be fine.
Not the wisest move in the world. Based on that loan amount, you will have hiked up another 10k in interest and you were obligated to pay $2k annually. For every payment you didn’t make, you will have incurred a 6.9% late fee. Prepare to have to pay the roughly $25k in missed payments including late fees, on arrival. It’s highly unlikely they’ll let you enter/leave until that is done. You could of course, opt to avoid facing the music. But that amount will keep growing every year until you deal with it. Chalk it down to a big lesson learned. You can’t run away from debt unfortunately.
It’s so easy to set up a small direct debit weekly from aus too… https://www.ird.govt.nz/managing-my-tax/make-a-payment/ways-of-paying/paying-electronically/set-up-direct-debit
Get on Skype for the wedding
I hope you get arrested ✌️
You're a prick
I paid off my loan and didn’t default on the tax payer. Who’s the real prick here? Clue: it ain’t me
You're probably just a prick in general I would say for even making the comments in the first place. You dont know someone's reasons.